ELECTRIC BUS MARKET ANALYSIS

Market Concentration and Competitive Landscape

Close-monitor your Competitor's Move, Request sample copy

Governments around the world are also incentivizing this shift through various subsidy and tax break programs for electric buses and related infrastructure. For example, the growing bus fleet electrification programs in Chinese cities were mainly driven by strong policy push and financial support from the national and local governments. The California marketplace for electric buses has also expanded rapidly over the past few years backed by massive grants and funding from the state. As emissions regulations get tougher worldwide, electric buses are emerging as a cost-effective means for transit agencies to transition to cleaner fleets and meet compliance standards. Their lower operating costs compared to diesel buses over the lifespan also make electric buses an attractive proposition for agencies aiming to maximize available budgets. With more automakers developing electric bus models, the options available to agencies are increasing as well. As battery technologies advance further, range limitations which were a challenge earlier are becoming less of a concern. All these factors combined are significant drivers that are fuelling the rising global demand for electric buses from a public transportation perspective.

For instance, in January 2023, the India-based electric mobility company, GreenCell Mobility Ltd, signed a contract with the transport department of the government of NCT Delhi. The agreement involves the deployment of 570 electric buses over the next two years. This move is driven by increasing population, environmental concerns, and a shift in consumer preference toward public transport.